36. Consolidation principles

Transactions eliminated on consolidation

Intragroup balances and transactions and all income and expenses from intragroup transactions are eliminated when consolidated financial statements are prepared.

Initial consolidation

UNIQA Ventures GmbH (Vienna) and City One Park Sp. z o.o. (Warsaw, Poland) were consolidated for the first time in the first quarter of 2020. Poland, Warsaw.

Acquisitions

In addition to the acquired AXA companies in Poland, the Czech Republic and Slovakia described in the Chapter “Business combinations”, 85 per cent of the shares in Treimorfa Project Sp. z o.o. (Krakow, Poland) were acquired in the second quarter of 2020. UNIQA 5 Star GmbH (Vienna) (previously: SASR Alpha Siebenundfünfzigste Beteiligungsverwaltung GmbH) was acquired in the third quarter of 2020. The acquisitions of Treimorfa Project Sp. z o.o. and UNIQA 5 Star GmbH do not represent a business combination within the meaning of 3. 

Restructuring processes

UNIQA International AG (Vienna) as assigning company was merged in the fourth quarter with UNIQA Österreich Versicherungen AG (Vienna) as acquiring company with retroactive effect from 1 January 2020.

PremiQaMed Management Services GmbH (Vienna) was merged in the third quarter of 2020 with PremiQaMed Holding GmbH (Vienna) as acquiring company.

In the fourth quarter of 2020, UNIQA Real Estate d.o.o. (Belgrade, Serbia) was merged with Renaissance Plaza d.o.o. (Belgrade, Serbia) as the acquiring company.

Sales

The 25 per cent shareholding in SK Versicherung Aktiengesellschaft (Vienna) was sold in September 2020.

Deconsolidation

The fully consolidated investment fund UNIQA Diversified Bond Fund was deconsolidated on 19 October 2020.

Company

 

Type of consolidation

Location

Equity interest at 31/12/2020 in per cent

Equity interest at 31/12/2019 in per cent

Domestic insurance companies

 

 

 

 

UNIQA Insurance Group AG (Group Holding Company)

 

Vienna

 

 

UNIQA Österreich Versicherungen AG

Fully consolidated

Vienna

100.0

100.0

SK Versicherung Aktiengesellschaft (Deconsolidation: 3/9/2020)

Vienna

0.0

25.0

 

 

 

 

 

Foreign insurance companies

 

 

 

 

AXA Życie Towarzystwo Ubezpieczeń S.A. (Initial consolidation: 15 October 2020)

Fully consolidated

Poland, Warsaw

100.0

0.0

AXA Ubezpieczenia Towarzystwo Ubezpieczeń i Reasekuracji S.A. (Initial consolidation: 15 October 2020)

Fully consolidated

Poland, Warsaw

100.0

0.0

AXA pojišťovna a.s. (Initial consolidation: 15/10/2020)

Fully consolidated

Czech Republic, Prague

100.0

0.0

AXA životní pojišťovna a.s. (Initial consolidation: 15/10/2020)

Fully consolidated

Czech Republic, Prague

100.0

0.0

Raiffeisen Life Insurance Company LLC

Fully consolidated

Russia, Moscow

75.0

75.0

SIGAL LIFE UNIQA Group AUSTRIA sh.a

Fully consolidated

Kosovo, Pristina

86.9

86.9

SIGAL LIFE UNIQA Group AUSTRIA sh.a.

Fully consolidated

Albania, Tirana

86.9

86.9

SIGAL UNIQA Group AUSTRIA sh.a.

Fully consolidated

Albania, Tirana

86.9

86.9

SIGAL UNIQA Group AUSTRIA sh.a.

Fully consolidated

Kosovo, Pristina

86.9

86.9

UNIQA AD Skopje

Fully consolidated

North Macedonia, Skopje

86.9

86.9

UNIQA Asigurari de Viata S.A.

Fully consolidated

Romania, Bucharest

100.0

100.0

UNIQA Asigurari S.A.

Fully consolidated

Romania, Bucharest

100.0

100.0

UNIQA Biztosító Zrt.

Fully consolidated

Hungary, Budapest

100.0

100.0

UNIQA Insurance Company, Private Joint Stock Company

Fully consolidated

Ukraine, Kiev

100.0

100.0

UNIQA Insurance plc

Fully consolidated

Bulgaria, Sofia

99.9

99.9

UNIQA Life AD Skopje

Fully consolidated

North Macedonia, Skopje

86.9

86.9

UNIQA Life Insurance plc

Fully consolidated

Bulgaria, Sofia

99.8

99.8

UNIQA LIFE Private Joint Stock Company

Fully consolidated

Ukraine, Kiev

100.0

100.0

UNIQA neživotno osiguranje a.d.

Fully consolidated

Serbia, Belgrade

100.0

100.0

UNIQA neživotno osiguranje a.d.

Fully consolidated

Montenegro, Podgorica

100.0

100.0

UNIQA osiguranje d.d.

Fully consolidated

Croatia, Zagreb

100.0

100.0

UNIQA osiguranje d.d.

Fully consolidated

Bosnia and Herzegovina, Sarajevo

100.0

100.0

UNIQA poisťovňa a.s.

Fully consolidated

Slovakia, Bratislava

100.0

99.9

UNIQA pojišťovna, a.s.

Fully consolidated

Czech Republic, Prague

100.0

100.0

UNIQA Re AG

Fully consolidated

Switzerland, Zurich

100.0

100.0

UNIQA Towarzystwo Ubezpieczeń na Życie S.A.

Fully consolidated

Poland, Lodz

99.8

99.8

UNIQA Towarzystwo Ubezpieczeń S.A.

Fully consolidated

Poland, Lodz

98.6

98.6

UNIQA Versicherung AG

Fully consolidated

Liechtenstein, Vaduz

100.0

100.0

UNIQA životno osiguranje a.d.

Fully consolidated

Serbia, Belgrade

100.0

100.0

UNIQA životno osiguranje a.d.

Fully consolidated

Montenegro, Podgorica

100.0

100.0

 

 

 

 

 

Group domestic service companies

 

 

 

 

Agenta Risiko- und Finanzierungsberatung Gesellschaft m.b.H.

Fully consolidated

Vienna

100.0

100.0

Assistance Beteiligungs-GesmbH

Fully consolidated

Vienna

64.0

64.0

call us Assistance International GmbH

Fully consolidated

Vienna

50.2

50.2

UNIQA 5 Star GmbH (Initial consolidation: 1/10/2020)

Fully consolidated

Vienna

100.0

0.0

UNIQA Capital Markets GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA International AG (Merger: 1/1/2020)

Fully consolidated

Vienna

0.0

100.0

UNIQA IT Services GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Real Estate Finanzierungs GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Real Estate Management GmbH

Fully consolidated

Vienna

100.0

100.0

Valida Holding AG

Equity method

Vienna

40.1

40.1

Versicherungsmarkt-Servicegesellschaft m.b.H.

Fully consolidated

Vienna

100.0

100.0

 

 

 

 

 

Group foreign service companies

 

 

 

 

UNIQA investiční společnost, a.s. (Initial consolidation: 15/10/2020; formerly: AXA investiční společnost a.s.)

Fully consolidated

Czech Republic, Prague

100.0

0.0

UNIQA Management Services, s.r.o. (Initial consolidation: 15/10/2020; formerly: AXA Management Services s.r.o.)

Fully consolidated

Czech Republic, Prague

100.0

0.0

AXA Polska S.A. (Initial consolidation: 15/10/2020)

Fully consolidated

Poland, Warsaw

100.0

0.0

DEKRA-Expert Műszaki Szakértői Kft.

Hungary, Budapest

50.0

50.0

sTech d.o.o.

Fully consolidated

Serbia, Belgrade

100.0

100.0

UNIQA GlobalCare SA

Fully consolidated

Switzerland, Geneva

100.0

100.0

UNIQA Group Service Center Slovakia, spol. s r.o.

Fully consolidated

Slovakia, Nitra

100.0

100.0

UNIQA Ingatlanhasznosító Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

UNIQA InsService spol. s r.o.

Fully consolidated

Slovakia, Bratislava

100.0

99.9

UNIQA Raiffeisen Software Service Kft.

Fully consolidated

Hungary, Budapest

60.0

60.0

UNIQA Raiffeisen Software Service S.R.L.

Fully consolidated

Romania, Cluj-Napoca

100.0

60.0

UNIQA Számítástechnikai Szolgáltató Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

Vitosha Auto OOD

Fully consolidated

Bulgaria, Sofia

99.9

99.9

 

 

 

 

 

Financial and strategic domestic shareholdings

 

 

 

 

Diakonissen & Wehrle Privatklinik GmbH

Fully consolidated

Gallneukirchen

92.6

90.0

Goldenes Kreuz Privatklinik BetriebsGmbH

Fully consolidated

Vienna

100.0

100.0

PremiQaMed Ambulatorien GmbH

Fully consolidated

Vienna

100.0

100.0

PremiQaMed Beteiligungs GmbH

Fully consolidated

Vienna

100.0

100.0

PremiQaMed Holding GmbH

Fully consolidated

Vienna

100.0

100.0

PremiQaMed Management Services GmbH (Merger: 1/7/2020)

Fully consolidated

Vienna

0.0

100.0

PremiQaMed Privatkliniken GmbH

Fully consolidated

Vienna

100.0

100.0

STRABAG SE

Equity method

Villach

14.3

14.3

UNIQA Beteiligungs-Holding GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Erwerb von Beteiligungen Gesellschaft m.b.H.

Fully consolidated

Vienna

100.0

100.0

UNIQA Leasing GmbH

Equity method

Vienna

25.0

25.0

UNIQA Ventures GmbH (Initial consolidation: 1/1/2020)

Fully consolidated

Vienna

100.0

0.0

 

 

 

 

 

Real estate companies

 

 

 

 

“Hotel am Bahnhof” Errichtungs GmbH & Co KG

Fully consolidated

Vienna

100.0

100.0

Asena LLC

Fully consolidated

Ukraine, Kiev

100.0

100.0

AVE-PLAZA LLC

Fully consolidated

Ukraine, Kharkiv

100.0

100.0

Black Sea Investment Capital LLC

Fully consolidated

Ukraine, Kiev

100.0

100.0

Design Tower GmbH

Fully consolidated

Vienna

100.0

100.0

DIANA-BAD Errichtungs- und Betriebs GmbH

Equity method

Vienna

33.0

33.0

EZL Entwicklung Zone Lassallestraße GmbH & Co. KG

Fully consolidated

Vienna

100.0

100.0

Floreasca Tower SRL

Fully consolidated

Romania, Bucharest

100.0

100.0

Hotel Burgenland Betriebs GmbH

Fully consolidated

Vienna

100.0

100.0

IPM International Property Management Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

Knesebeckstraße 8-9 Grundstücksgesellschaft mbH

Fully consolidated

Germany, Berlin

100.0

100.0

Praterstraße Eins Hotelbetriebs GmbH

Fully consolidated

Vienna

100.0

100.0

PremiQaMed Immobilien GmbH

Fully consolidated

Vienna

100.0

100.0

Pretium Ingatlan Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

Renaissance Plaza d.o.o.

Fully consolidated

Serbia, Belgrade

100.0

100.0

Reytarske LLC

Fully consolidated

Ukraine, Kiev

100.0

100.0

R-FMZ Immobilienholding GmbH

Fully consolidated

Vienna

100.0

100.0

Software Park Kraków Sp. z o.o.

Fully consolidated

Poland, Warsaw

100.0

100.0

UNIQA Immobilien-Projekterrichtungs GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Linzer Straße 104 GmbH & Co KG

Fully consolidated

Vienna

100.0

100.0

UNIQA Plaza Irodaház és Ingatlankezelő Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

UNIQA poslovni centar korzo d.o.o.

Fully consolidated

Croatia, Rijeka

100.0

100.0

UNIQA Real Estate Bulgaria EOOD

Fully consolidated

Bulgaria, Sofia

100.0

100.0

UNIQA Real Estate BV

Fully consolidated

Netherlands, Hoofddorp

100.0

100.0

UNIQA Real Estate CZ, s.r.o.

Fully consolidated

Czech Republic, Prague

100.0

100.0

UNIQA Real Estate d.o.o. (Merger: 22/12/2020)

Fully consolidated

Serbia, Belgrade

0.0

100.0

UNIQA Real Estate GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Real Estate Inlandsholding GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Real Estate Polska Sp. z o.o.

Fully consolidated

Poland, Warsaw

100.0

100.0

UNIQA Real Estate Property Holding GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Real III, spol. s r.o.

Fully consolidated

Slovakia, Bratislava

100.0

100.0

UNIQA Real s.r.o.

Fully consolidated

Slovakia, Bratislava

100.0

100.0

UNIQA Retail Property GmbH

Fully consolidated

Vienna

100.0

100.0

UNIQA Szolgáltató Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

UNIQA-Invest Kft.

Fully consolidated

Hungary, Budapest

100.0

100.0

Zablocie Park Sp. z o.o.

Fully consolidated

Poland, Warsaw

100.0

100.0

City One Park Sp. z o.o. (Formerly: Dabrine Investments Sp. z o.o.)

Fully consolidated

Poland, Warsaw

100.0

0.0

Treimorfa Project Sp. z o.o. (Initial consolidation: 1.4.2020)

Fully consolidated

Poland, Krakow

85.0

0.0

Treimorfa Hotel Sp. z o.o.

Fully consolidated

Poland, Krakow

85.0

0.0

 

 

 

 

 

Pension and investment funds

 

 

 

 

UNIQA d.d.s., a.s. (Initial consolidation: 15/10/2020; formerly: AXA d.d.s., a.s.)

Fully consolidated

Slovakia, Bratislava

100.0

0.0

UNIQA d.s.s., a.s. (Initial consolidation: 15/10/2020; formerly: AXA d.s.s., a.s.)

Fully consolidated

Slovakia, Bratislava

100.0

0.0

UNIQA penzijní společnost, a.s. (Initial consolidation: 15/10/2020; formerly: AXA penzijní společnost a.s.)

Fully consolidated

Slovakia, Brno

100.0

0.0

AXA Powszechne Towarzystwo Emerytalne S.A. (Initial consolidation: 15 October 2020)

Fully consolidated

Poland, Warsaw

100.0

0.0

AXA Towarzystwo Funduszy Inwestycyjnych S.A. (Initial consolidation: 15 October 2020)

Fully consolidated

Poland, Warsaw

100.0

0.0

SSG Valluga Fund

Fully consolidated

Ireland, Dublin

100.0

100.0

UNIQA Corporate Bond

Fully consolidated

Vienna

100.0

100.0

UNIQA Diversified Bond Fund (Deconsolidation: 19/10/2020)

Fully consolidated

Vienna

0.0

100.0

UNIQA Eastern European Debt Fund

Fully consolidated

Vienna

100.0

100.0

UNIQA Emerging Markets Debt Fund

Fully consolidated

Vienna

100.0

100.0

UNIQA Euro Government Bond Fund

Fully consolidated

Vienna

99.7

99.7

UNIQA World Selection

Fully consolidated

Vienna

100.0

100.0

IFRSs
International Financial Reporting Standards. Since 2002 the term IFRSs has applied to the overall concept of standards adopted by the International Accounting Standards Board. Standards already adopted beforehand continue to be referred to as International Accounting Standards (IASs).
Equity method
Investment in associates is accounted for using this method. The value carried corresponds to the Group’s proportional equity in these companies. In the case of shares in companies that prepare their own consolidated financial statements, their Group equity is assessed accordingly in each case. Within the scope of ongoing measurement, this value must be updated to incorporate proportional changes in equity with the share of net income/(loss) being allocated to consolidated profit/(loss).
Equity method
Investment in associates is accounted for using this method. The value carried corresponds to the Group’s proportional equity in these companies. In the case of shares in companies that prepare their own consolidated financial statements, their Group equity is assessed accordingly in each case. Within the scope of ongoing measurement, this value must be updated to incorporate proportional changes in equity with the share of net income/(loss) being allocated to consolidated profit/(loss).